On Monday, China said it would impose anti-dumping duties on certain stainless steel products imported from the European Union, Japan, South Korea and Indonesia.
Anti-dumping tariffs ranging from 18.1% to 103.1% will apply to stainless steel billets and hot rolled stainless steel sheets from companies in the EU and three Asian countries starting July 23, the Chinese Ministry of Commerce said in a statement.
The decision comes following an anti-dumping investigation last July following a complaint filed by state-owned Shanxi Taigang Stainless Steel.
"The investigation agency has issued a final ruling that the dumping of the investigated products has taken place, causing significant damage to the Chinese industry," the ministry of commerce said in a statement.
Stainless steel billets and hot rolled stainless steel sheets are mainly used as raw materials for cold rolled stainless steel products or used in shipbuilding, containers, railways, energy and other industries.
China, the world's largest stainless steel producer, produced 26.71 million tonnes of stainless steel products in 2018, up 2.4% from a year ago, according to the China Stainless Steel Association.
The country imported 1.85 million tons of stainless steel products last year, up 53.7% from 2017.
China to introduce anti-dumping tax on stainless steel
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Azovpromstal® 22 July 2019 г. 10:57 |
